Geopolitical Risks Push Oil Prices Higher

Oil prices are being pushed higher by renewed geopolitical risk after the UK and the U.S. launched an attack on Houthi positions in Yemen. Brent temporarily climbed above $80 before falling back slightly.Friday, January 12, 2024The escalation of tensions in the Red Sea, culminating in the largest US/UK attack on Houthi positions since the start of Operation Prosperity Guardian, has prompted multiple tankers to divert from the Suez Canal and Danish shipping firm Torm joined the ranks of European companies avoiding Red Sea transits. For the first…